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Spearmint announces "game changing" drill results at Clayton Valley

Vladimir Basov

Kitco News

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Drilling at Clayton Valley. Image credit: Spearmint.

(Kitco News) - Spearmint Resources (CSE: SPMT) announced on Friday the assay results from the first 3 completed drill holes of its phase II 2020 10-hole drill program on the Clayton Valley lithium clay project in Nevada.

The first three holes drilled into the clay formation all intersected lithium. Assays from drill hole #5 intersected lithium values as high as 1,840 parts per million (ppm) lithium with a range of 1,840 to 420 ppm lithium.

According to the company’s statement, this is “game changing” news for Spearmint, because these are the highest drill results ever drilled on this property. Management of the company is “very optimistic” about the remainder of 2020 and into 2021 as this project proves its value.

President James Nelson commented, "We are extremely pleased to announce the discovery of our highest lithium drill core values to date on the Clayton Valley lithium clay project in Nevada. Ever since the comments Elon Musk made about Tesla’s intention to enter the lithium mining business in Nevada (on Tesla’s battery day September 22, 2020) there has been a renewed focus on the few known lithium deposits within the State of Nevada.”

“We are very encouraged to have hit substantial intercepts of the targeted and potentially lithium hosting claystone in all 7 remaining drill holes and at proximity so close to the surface. We are very optimistic about what this project could mean in the short and long term to Spearmint,” concluded Mr. Nelson.

By Vladimir Basov

For Kitco News

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